In a heart-wrenching turn of events, family of renowned Bollywood art director, Nitin Desai, has come forward with serious allegations against Edelweiss Group. They firmly believe that the actions of the financial company caused immense distress to Nitin, leading to his tragic demise. Let's delve into this distressing incident with a compassionate understanding:
The Allegations
Amidst the grief of Nitin Desai's untimely passing, his family has taken a brave step and filed a complaint against Edelweiss Group and others. They claim that Nitin faced relentless pressure & harassment regarding loans taken by his company. They firmly believe that this undue strain eventually pushed him to take the heartbreaking decision, leaving them shattered.
Remembering Nitin Desai's Genius:
Nitin Desai, the artistic genius behind Bollywood hits like "Lagaan" and "Jodhaa Akbar," was an epitome of creativity. Nitin's extraordinary talent made him highly respected & adored by both the film industry and his fans.
The Financial Struggles:
In 2016 and 2018, Nitin's company, ND's Art World Pvt Ltd, borrowed a total of Rs 185 crore from ECL Finance, which is connected to Edelweiss Group. However, the company faced difficulties in paying back the loans, especially starting from January 2020. This increasing burden led to a major default of Rs 252 crore, which eventually led to company facing insolvency proceedings.
Edelweiss Group's Side of the Story:
In response to the allegations, Edelweiss ARC expressed deep sorrow over Nitin Desai's tragic passing and clarified that they had indeed provided financial assistance for a theme park and working capital. Despite their sincere efforts to help, the company faced financial difficulties starting from 2020. Edelweiss maintains that they adhered to all legal processes throughout.
The Ongoing Investigation:
The police have now registered a case under sections 306 and 34 of the Indian Penal Code, diligently investigating the allegations of abetment of suicide and common intention. The authorities trying their best to find out the reality of this saddening event.
Heartfelt Grief:
The film industry and the art community are deeply saddened by the passing of Nitin Desai, an extraordinary visionary. During this difficult period, the sincere worries expressed by Nitin Desai's family are being treated with great care. The authorities trying their best to find out the reality of this saddening event and give justice to Nitin's Family.